King warns of delay in switch to new regulatory regime
Mervyn King, the governor of the Bank of England, on Tuesday stressed the importance of getting regulatory reforms at the Bank correct, adding it should take precedence over meeting deadlines to house prudential supervision within the central bank.
Speaking at a hearing with the Treasury Select Committee on financial regulation, King said: "We want [financial regulation] to move as quickly as possible, but it is important to get it right, if taking longer [to introduce the changes] is the only
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